Lawfirms seek class action suit against Toyota, says vehicles have lost billions in value

By Dan Strumpf, AP
Wednesday, February 10, 2010

Lawfirm group seeks national suit against Toyota

NEW YORK — A group of 22 law firms in 16 states wants to bring a national class action lawsuit against Toyota Motor Corp., alleging Toyota vehicles have lost billions of dollars in value in the wake of massive recalls.

P. Tim Howard, a Northeastern University law professor leading Attorneys Toyota Action Consortium, says the 8 million vehicles Toyota has recalled for faulty gas pedals have collectively cost their owners more than $2 billion in lost value.

The group says it has a hearing scheduled in U.S. Discrict Court in San Diego on March 25, where a panel of judges will decide whether to consolidate the dozens of economic-loss cases filed around the country on behalf of Toyota owners.

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